Oireachtas Joint and Select Committees

Thursday, 7 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Sean BarrettSean Barrett (Independent) | Oireachtas source

Now you referred earlier, I think it's in response to Deputy Phelan, about the compliance culture of the Royal Bank of Scotland. I have many constituents, the nature of my constituency in the United Kingdom, and I think I'd have to say that compliance and the Royal Bank of Scotland don't actually go well in the same sentence. Record fines for anti-competitive practices on 20/1/ 2011. In fact, one of the executives was deprived of his knighthood by Her Majesty, so, I mean, it was not a compliant corporate culture. I think I will just have to ... unless there are people from the United Kingdom looking into today, I know they have other things to do, but Royal Bank of Scotland did not have a compliant culture. I'd have to put that proposition to you.

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